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news.Abbott Laboratories has decided not to exercise its license-back option for Speedel's SPP200 which has recently completed a successful phase II trial in patients undergoing chronic haemodialysis.
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Abbott acquired the product through the acquisition of Knoll AG in 2002 before out-licensing it to Speedel in 2003. Based on the promising results from the phase II trial, Speedel is evaluating all options and will be consulting with the FDA in the fourth quarter to seek their input.
A statement released by Speedel said that Abbott has decided not to exercise its option for the drug due to “strategic portfolio considerations.”
“SPP200 gives Speedel the opportunity to retain an asset and add further value to our mature and diverse pipeline. We will be considering all options, from both clinical and economical perspectives, before deciding the most appropriate next steps,” said Alice Huxley, CEO.
SPP200 is a long-acting direct thrombin inhibitor designed to prevent the formation of clots in vascular grafts. The phase II trial was conducted in the US in 127 patients to assess the safety profile of SPP200 and the reduction of vascular graft occlusion in patients undergoing chronic haemodialysis for end- stage renal disease.